VIZIONFOCUS is seeing a rebound in orders from Japan and China, along with the scheduled shipment of its U.S. silicone hydrogel contact lenses by the end of February. As a result, first-quarter revenue is expected to surpass Q4 2023, with new products and customers driving further growth in Q2, setting the stage for quarterly increases throughout the year.
In January, the company reported NT$257 million in revenue, reflecting a 20.26% year-over-year decline due to fewer working days during the Lunar New Year holiday. However, revenue saw a 15.23% month-over-month increase.
VIZIONFOCUS stated that its self-developed daily disposable silicone hydrogel contact lenses have received U.S. FDA approval, marking a major step in expanding its U.S. market presence. Currently, silicone hydrogel products contribute only about 1% of total revenue, but with regulatory approvals expected across multiple markets in 2025, the company anticipates exponential revenue growth in this segment.
Silicone hydrogel contact lenses are known for their high oxygen permeability and comfort, allowing more oxygen to reach the eyes, promoting eye health, and ensuring all-day comfort. While Japan and China remain VIZIONFOCUS' primary revenue sources, the U.S. is positioned as a key growth market. With U.S. sales starting in February, the company expects steady revenue growth each quarter.
VIZIONFOCUS also noted that the economic downturn in China is stabilizing, and with new customers and product launches contributing to orders, as well as continued market expansion in the U.S., Taiwan, and Southeast Asia, the company anticipates strong revenue growth in 2024.
Specializing in soft contact lenses, VIZIONFOCUS has a competitive edge in developing silicone hydrogel lenses, sports-focused daily disposables, and myopia control products. The company also operates a manufacturing facility in China, strategically positioning itself to serve the underpenetrated Chinese market, where contact lens adoption is still at just 8%.
Industry analysts estimate that once VIZIONFOCUS begins U.S. silicone hydrogel shipments, the segment's revenue contribution will rise from 2% in 2024 to 5%. The company expects to obtain Japan and EU regulatory approvals by 2026. While its silicone hydrogel gross margins currently align with hydrogel lenses, full production capacity could potentially increase margins by five percentage points over traditional hydrogel products.
Resource: 美國矽水膠2月出貨 望隼今年估逐季成長
